75% multinationals use outsourced support: PwC

New Delhi | Updated: Oct 29 2004, 05:30am hrs

Around 75% of the US and European multinational companies now use outsourcing or shared services to support their financial functions, according to a survey conducted by PricewaterhouseCoopers. The trend would continue over the next 12 to 24 months, PwC has added.

The trend of MNCs wanting to increase their outsourcing offers tremendous opportunity for the service providers with facilites in India, as they are cost effective and bring value to clients, said Joydeep Datta Gupta, leader for performance improvement and governance, risk and compliance practice in the country.

He added that growth in this sector will get a further impetus as Indian BPO companies have robust security practices and emphasis is laid on developing trust with clients.

The survey points out that 47% of combined US and European executives, who have outsourced financial functions, report that their company has been saving either a moderate amount or a great deal.